BMW Net Climbs; ITV in

Nigel Thomas
12 Mar, 2015
New York City

BMW profit jumped 9% to

[R]4:00 PM Frankfurt – BMW profit jumped 9% to €5.8 billion. Home Retail Group sales dropped 4% to €505 million. ITV agreed to acquire Netherlands-based Talpa Media for €1.1 billion. Lufthansa net tumbled 82% to €55 million. Serco net swung to a loss to £1.4 billion. TSB received preliminary offer Sabadell for $2.6 billion.[/R]

In London trading, FTSE 100 index gained 0.8% or 53.89 to 6,775.40 and in Frankfurt the DAX index slid 0.03% or 3.91 to 11,802.08.

In Paris, CAC 40 index fell 0.09% or 4.58 to 4,993.17.

Bayerische Motoren Werke AG slipped 1.5% to €117.60 after the Germany-based automobile maker reported group revenues in the year ending in December climbed 5.7% to €80.40 billion from €76.06 billion a year ago period.

Net profit in the year soared 9.2% from a year ago to €5.82 billion compared to €5.33 billion and diluted earnings per share increased to €8.83 from €8.08.

Home Retail Group Plc plunged 10.7% to 174.50 pence after the U.K.-based home furnishing retailer reported agro sales in the eight-week trading period in the year ending on February 28 dropped 4% to £505 million and sales from the home-base segment declined 4.7% to £193 million.

The company forecasted pre-tax profit for the year ending in February between £120 million and £132 million.

ITV Plc gained 1.5% to 250.70 pence after the U.K.-based broadcasting company agreed to acquire Netherlands-based Talpa Media B.V., the entertainment show producer for about €1.1 billion or £781 million.

The transaction is expected to close during the second quarter of this year.

Deutsche Lufthansa AG declined 2.6% to €13.09 after the Germany-based airline company reported total group revenues in the year ending in December slid 0.1% to €30.01 billion from €30.03 billion a year ago period.

Net profit in the year tumbled 82.4% from a year ago to €55 million compared to €313 million and diluted earnings per share increased to €0.12 from €0.68.

Serco Group Plc plummeted 12.8% to 180 pence after the U.K.-based business support service provider said revenues in the year ending in December plunged 7.5% to £3.96 billion from £4.28 billion a year ago period.

Net in the year swung to a loss from a year ago to £1.35 billion compared to profit of £98.4 million and diluted loss per share swung to a 258.4 pence from diluted earnings per share of 20.1 pence.

TSB Banking Group Plc surged 26.1% to 333.06 pence after the retail bank received preliminary offer from the Spain-based lender Banco de Sabadell for $2.6 billion or 340 pence in cash per share.